A veteran of Hong Kong’s Securities and Futures Commission, Christina Choi will oversee investment products, in the culmination of a long-running saga. But there remains a question over coverage of China activities.
The foreign exchange regulator has relaxed quota rules on qualified foreign institutional investors in a harmonisation drive tipped to push overseas firms to raise onshore allocations.
Operational issues and uncertainties over marketing and disclosure on both sides of the border underline why this is no get-rich-quick scheme, says lawyer Effie Vasilopoulos.
If the pro-democracy demonstrations are not short-lived there could be repercussions for the city, which has become dangerously reliant on mainland China, industry players say.
Signficant moves by investment fund lawyers in Asia in recent months amid fierce competition may reflect greater optimism about the global economy.
Mainland asset managers are increasingly seeking to sell their capabilities to European institutions, although lack of brand recognition and market volatility are obstacles.